Cloud computing represents a paradigm shift that benefits individual consumers, enterprises, and service providers. Information technology (IT) resources and services in the cloud may be abstracted from underlying infrastructure and provided on demand and at scale in a shared multitenant and elastic environment. Cloud services may be characterized by various parameters, including a payment or pricing model (e.g., pay-as-you-go, usage based pricing), elasticity (e.g., users can dynamically consume more or less resources), location independence, high fault tolerance, high availability, and ubiquitous access to services (e.g., users can access the services from any location, using any device). Cloud services include storage, network, and computing, facilitating various service models, such as infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS). The increasing number of applications, data and services offered in the cloud pose a challenge to service providers and enterprises in terms of various parameters, including managing the demand, and metering the usage.